6.9 Million U.S. Homes with Mortgages Seriously Underwater in Q3

According to RealtyTrac’s Q3 2015 U.S. Home Equity & Underwater Report, as of the end of the third quarter there were 6,917,673 U.S. residential properties that were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value — representing 12.7 percent of all properties with a mortgage.

The third quarter underwater numbers were down from 7,443,580 seriously underwater homes representing 13.3 percent of all homes with a mortgage in the previous quarter and at the lowest level for both total mortgages and share of mortgages since RealtyTrac began tracking underwater data in the first quarter of 2012. The number and share of seriously underwater homes peaked in the second quarter of 2012 at 12,824,729 seriously homes representing 28.6 percent of all homes with a mortgage.